The Weekly Watch List Performance Tells a Story – MarketSmith Growth 250 and IBD50 Candidates Winning!
MarketSmith Growth 250, IBD50 and the weekly watch list all signal a change in sentiment and market character. This week alone, MarketSmith alerted us to 21 break outs. Since few break outs are failing we can assume a bullish bias. Many gap and go candidates are trending higher, as they trade post-EPS.
Summary
Watch List for the Week
Performance is much better than expected. Give these a little room and let your winners run. CTRL alone is up 15.71%.
With stocks like CTRL taking off, watch for strength in competitors like ALRM, another IBD50 candidate. Alarm is trending for the past few weeks. We anticipate that CTRL could do the same, so try to be patient for the bigger gains.
Futures are flat. China tarriffs go into effect.
BABA is higher (+7.25%) on bullish GAAP EPS in addition to topping sales estimates. That said, the largest China based online retailer missed estimates. Go figure. The stock is up +7.00 in early trading.
We’ll watch for a followthrough trade on BABA in the coming days. Short-term there is a potential to move higher.
Observation: NYSE has seen a surge in fresh 52-week highs not seen in over 8 months. This is a major change in market character and one which remains bullish short-term.
We’ll be LIVE at 9:20 AM. Come watch, listen and trade with us during market hours.
Happy Trading,
Vinny
https://theclosingprint.com/CV_Blog/marketsmith-performance-90-day-review/
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